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- NIESR estimate UK GDP at +0.2%
NIESR estimate UK GDP at +0.2%
Amit Kara, Head of UK macroeconomic forecasting, said "We estimate that output expanded by just 0.2 per cent in the three months to May 2018, which is around half the potential growth rate of the economy. Economic growth has slowed materially since the start of this year and it continues to remain weak. One reason for sluggish growth is the disruption caused by severe weather in March, particularly to the construction sector. The latest data also shows a notable slowdown in manufacturing sector output that appears to be driven by both domestic and external conditions. By contrast, the retail sector and the dominant services sector may be recovering".
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